After Kia, Hyundai has also increased its Elantra and Sonata prices. The company gave local currency instability, increased shipping charges, and hikes in tax rates as the reason for the hike in prices. Hyundai Sonata has a significant increase in price as compared to Elantra.
|Car Model||Old Price (PKR)||New Price (PKR)||Increase (PKR)|
|Elantra GL 1.6||4,341,990||5,099,000||757,010|
|Elantra GLS 2.0||4,998,490||5,499,000||500,510|
Pakistan’s vehicle industry is battling because of the misfortunes of local currency deterioration, shipping expenses, tax rate climbs, and general economy unsteadiness in the country.
These issues have constrained significant automakers to manage their creation focuses in Pakistan. Toyota Indus Motor Company (IMC) has stopped creation for a significant time frame period, while Honda Atlas Cars Limited (HACL) and Kia Lucky Motor Corporation Limited (KLMCL) are moving to single-shift creation plans.
What are your thoughts on the current situation of the economy and rupee instability? Share your thoughts in the comments!